USD/CHF retraces gains, back below 0.9600

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The franc has managed to take back some losses against the greenback at the beginning of the American session as the US currency surrenders gains across the board.

    USD/CHF turned lower after reaching a peak of 0.9618 during the European trade, having fallen nearly half a cent ever since to currently trade around 0.9570, still 0.14% above its opening price.

    The dollar rallied across the board during the European session with no clear fundamental catalysts behind the move, although it has given up most gains afterwards as investors attention turns to FOMC minutes to be released during the American afternoon.

    USD/CHF levels to watch

    As for technical levels, USD/CHF could find next resistances at 0.9618 (Apr 6 high), 0.9648 (10-day SMA) and 0.9669 (Mar 30 high). On the flip side, supports are seen at 0.9545 (2016 low, Apr 5), 0.9527 (Oct 21
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